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TMI BlogDGFT Launches online payment facility for application fees through Credit/ Debit Cards or through net banking in a 24*7 environment.X X X X Extracts X X X X X X X X Extracts X X X X ..... DGFT Launches online payment facility for application fees through Credit/ Debit Cards or through net banking in a 24*7 environment. - News and Press Release Dated:- 9-7-2015 - News - In keeping with the Digital India vision of Hon'ble Prime Minister, and taking yet another small but crucial step towards paperless, online functioning in 24x7 environment, Directorate General of Foreign Trade(DGFT) today launched the facility of online payment of application fees through Credit/Debit cards and electronic fund transfer from 53 Banks (List annexed). The facility of online payment was launched by Commerce Secretary Ms. Rita A.Teaotia. As a measure of Trade Facilitation and Ease of Doing Business, DGFT has already operationalised the fa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cility of Online filing of various applications by the exporters/importers under the Foreign Trade Policy (2015-20). Early this year, DGFT also operationalised the facility of online submission of applications for issue of online Importer Exporter Code in digital format or e-IEC for entrepreneurs/exporters/importers. Now with the online payment facility being available from 53 banks as well as Credit and Debit cards, it would be possible to not only apply online for benefits under various schemes under Foreign Trade Policy but also make payment of the required application fee online, thus totally obviating the need to visit the offices of DGFT or banks for submission of applications. With the launch of this new facility applicants can now ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pay fees online to DGFT through their Credit /Debit Cards or through net banking in a 24x7 environment, from the comfort of their homes/offices or IT kiosks. This facility would also make the field offices of DGFT paperless to a large extent and enable them to function in 24*7 environment, while saving extra expenditure on storage space. It would also ensure transfer of the fee amount into government account on T+1 working day, avoiding undue delay in deposit of bank drafts etc. DGFT has signed a Memorandum of Understanding (MOU) with the Central Bank of India, that will provide payment gateway services to the online portal of DGFT to enable applicants/ exporters/ importers to pay their application fees through Credit/Debit Cards or thr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ough net banking. The Central Bank of India will thus: (i) Provide facility for collection of fee through online portal of DGFT from banks through internet banking, debit cards and credit cards; (ii) Provide e-challans, banks scrolls, transaction IDs for all successful transactions (iii) Refund amount to the applicant within 3 days, in case of failed transactions; (iv) Provide all relevant details for seamless integration with the PAO and subsequent reconciliation with banks and RBI; and (v) Transfer the funds as per remittance norms of T+1 working day. The charges applicable for using internet banking, debit /credit cards will be as follows: Transaction Processing Charges ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Visa / Master Card Credit card transaction : 1.45% of payment amount per transaction. Visa / Master Card/Rupay Debit Card transactions : For transaction amount upto ₹ 2000/- -: 0.75% of payment amount per transaction. For transaction amount above ₹ 2000/- -: 1.00% of payment amount per transaction. Net Banking Transactions: For transaction amount upto ₹ 10,000/- -: Nil For transaction amount above ₹ 10,000/- -:Rs. 14/- per transaction / across all banks Service tax would be extra Annexure Sl No. Existing list of banks providing Net banking facility Revised list ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of banks providing Net banking facility 1. Axis Bank Allahabad Bank 2. Bank of India Andhra Bank 3. Central Bank of India Axis Bank 4. HDFC Bank Bank of Bahrain and Kuwait 5. Oriental Bank of Commerce Bank of Baroda 6. Punjab National Bank Bank of India 7. ICICI Bank Bank of Maharashtra 8. IDBI Canara Bank ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9. State Bank of India Catholic Syrian Bank 10. Union Bank of India Central Bank of India 11. City Union Bank 12. Corporation Bank 13. Cosmos Bank 14. Dena Bank 15. Deutsche Bank 16. Development Credit Bank 17. Dhanlakshmi Bank 18. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Federal Bank 19. HDFC Bank 20. ICICI Bank 21. IDBI Bank 22. Indian Bank 23. Indian Overseas Bank 24. IndusInd Bank 25. ING Vysya Bank 26. Jammu and Kashmir Bank 27. Karnataka Bank Ltd 28. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Karur Vysya Bank 29. Kotak Bank 30. Laxmi Vilas Bank 31. Oriental Bank of Commerce 32. Punjab and Maharashtra Co-op Bank 33. Punjab Sind Bank 34. Punjab National Bank 35. Ratnakar Bank Ltd 36. The Saraswat Co Operative Bank Ltd 37. Shamrao Vitthal Co-op ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... erative Bank 38. South Indian Bank 39. Standard Chartered Bank 40. State Bank of Bikaner Jaipur 41. State Bank of Hyderabad 42. State Bank of India 43. State Bank of Mysore 44. State Bank of Patiala 45. State Bank of Travancore 46. Syndicate Bank ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 47. Tamilnad Mercantile Bank Ltd 48. TNSC Bank 49. UCO Bank 50. Union Bank of India 51. United Bank of India 52. Vijaya Bank 53. Yes Bank Ltd - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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